How's this deal in Baytown, Texas (near Houston)?

[Sandeep S.]

I am in contract for this REO property: 8119 Eastpoint Blvd, Baytown, TX 77521 for $110k. I expect that rehab will take another $10k (max).

It is a 2005 built, 4 BR, 2500 sq ft home in decent school district. I am assuming rent of ~$1500. As such I am going to hold it as rental - I think the ARV (should I flip) is ~$155k. Even for rentals - I always want to make sure there is enough room for flip (to qualify it as a good deal).

This will be my 2nd acquisition in Houston area (note that I am in California) and I am hoping that it is better than the first deal I am closing today (23527 Hidden Maple Dr, Spring, TX)

Thoughts on my numbers and quality of deal?